Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-10-13
GARRETT GOES OUT.
His Resignation as President of the b. &
Accepted.


BALTIMORE, October 12.-The Board OF
Directors of the Baltimore and Ohio Rail-
road Company held their regular meeting
to- day. The county and State, as well as
the private stockholders, were fully repre-
sented.
The Board authorized the payment of
five per cent dividend on the stock Of the
Washington branch. The recommenda-
ton of the Finance Committee, that no
dividend be paid on the stock of the main
line for the past six months was adopted.
The sale Of the Baltimore and Ohio Tele-
graph to the Western Union was ratified.
The railroad company receives for this
property five million dollars in stock of the
Western Union, and an annual rental Of
$50, 900.
The following letter was then read from
Mr.. Robert Garrett, resigning the presi-
dency of the Baltimore and Ohio Com
pany.
BALTIMORE, MD, October 8.
To the Directors Of the Baltimore and Ohio
Railroad Company:
GENTLEMEN: 1t is well known to many
of you that it has been for some time my
fixed desire and intention to withdraw,
when l properly could, from the labors
which have been imposed upon me
by my official position as Pres
ident of the Baltimore and Ohio
Railroad Company. But as yOu are
also aware the policy and undertakings of
the Company, which necessarily y assumed
at the time | accepted the Presidency,
were such as to render it improper for me,
with due regard to the interests involved,
to withdraw from their prosecution. Now,
however, that arrangements have been
made which, as hope and believe, will Sc
cure many Of the ends for which we have
so long struggled, and the business and
finances of the company being in sound
and satisfactory condition, | am in a posi-
ton to tender you, az do hereby, my res
ignation IS President of the Company. |
thank yOu for the courtesy and cOnsidera-
tion which you have uniformly extended
to lie, and trust you will he able within
u
to whom may surrender the trust with
which you have bonored me.
am, very respectfully,
ISigned1 ROBERT GARRETT.
After few feeling remarks by Mr.. Nc
Kenny White, city director, and MIR.
Wm. F. Burns, President pro tenn, who pre-
sided over the meeting in the abseGCe of
Mr.. Garrett, the resignation was accepted,
and the following resolution was unani-
mously adopted:
ReSOIred, That in accepting the resigna-
tion Of Robert Garrett, of the Presidency
Of this company, We do so with deep regret.
We know how earnest has been his desire
to withdraw from the exacting duties of
the Office, and how imperative, mp to this
time, has been the necessity that he should
not do so. Many Of the measures of policy
whose completion was undertaken when he
became president, have been pursued
through difficulty and peril, till their sue
sess and is no longer doubtful. We appre-
ciate the fact that this result has been
largely due to his courage and unselish de-
vOtiOn to the company's interests and con-
gratulate him on the fact that in leaving
the the office at this time he not only does
so with the affection and respect of all
those connected with the company, but
with it recognition by all those acquaint-
ed with it, of how great have been the
services he has rendered.
Mr.. George Van Bibber, city director,
nominated Mr.. Robert Garrett as director
TO fill the vacancy made by the death of
Col. J. Spear Nichols. He was elected. 1t
is understood that he will occupy places in
all the important committees. Meantime
Mr.. VIM. F. Burns will act as president
until the election of successor to Mr. Gar
rett at the annual meeting of the stock
holders in November.
The arrangements now in progress with
the syndicate to relieve the road of its in
debtedness were presented and entirely
approved, so far as they have progressed.
All the legal papers are in preparation and
it is expected they will be laid before the
board at the annual meeting in November.